Warner Bros. Discovery confirms it has received buyout offers and is considering its options

NEW YORK AP Just months after announcing plans to split into two companies Warner Bros Discovery has signaled that it may be open to a sale of its business In an announcement Tuesday the entertainment giant stated it had initiated a review of strategic alternatives in light of unsolicited interest it had received from multiple parties for both the entire company and Warner Bros specifically Warner Bros Discovery did not specify where that interest was coming from and a spokesperson reported the company couldn t share additional information when reached by The Associated Press on Tuesday But its review arrives after growing reports of Skydance-owned Paramount looking to make a bid Citing anonymous sources familiar with the matter The Wall Street Journal in the last few days revealed that Paramount approached Warner about a probable majority-cash offer in late September and that Warner Chief Executive David Zaslav had rebuffed those first overtures The AP reached out to Paramount for message on Tuesday Back in June Warner Bros Discovery outlined plans for HBO HBO Max as well as Warner Bros Television Warner Bros Motion Picture Group DC Studios to become part of a new streaming and studios company while its networks like CNN Discovery and TNT Sports and digital products such as the Discovery streaming institution and Bleacher Review would make up a separate cable counterpart Warner expected the split to be complete by mid- and announced Tuesday that continuing to advance this separation was still among the options it s now considering We took the bold step of preparing to separate the Company into two distinct leading media companies Warner Bros and Discovery Global because we strongly supposed this was the best path forward Zaslav reported in a comment Still he added it s no surprise that the key value of our portfolio is receiving increased recognition by others in the field Source